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Dow's Sulfoxaflor OK'd in the U.S. - Analyst Blog

The Dow Chemical Company
's (
DOW
) fully-owned subsidiary Dow AgroSciences LLC has received
approval from the U.S. regulatory authorities to market its new
insecticidal active ingredient, Sulfoxaflor, as Transform and
Closer.

Sulfoxaflor registrations in the U.S. and Canada were
accomplished after a Global Joint Review which also included
Australia. Countries which have already registered sulfoxaflor
are South Korea, Panama, Vietnam, Indonesia, and Guatemala.
Australian sulfoxaflor registration is expected by third-quarter
2013. In addition to this, other global registrations are
anticipated in the near future.

Sulfoxaflor falls under the Dow AgroSciences invented novel
chemical class, sulfoximines. Sulfoxaflor is uniquely designed to
exhibit effective control over many important sap-feeding harmful
insect pests. It also holds exclusive features that make it
distinct from other sap-feeding insecticides by providing an
innovative new tool for farmers in the years to come.

Sulfoxaflor can be applied in a large variety of crops including
cotton, soybean, citrus, pome/stone fruit, nuts, grapes,
potatoes, vegetables and strawberries. Sulfoxaflor is an
exemplary introduction to the Integrated Pest Management
programs. The tool fits perfectly into growers' existing programs
to help them protect yields in a wide variety of foods and fiber
crops globally.

Dow AgroSciences had successfully launched Sulfoxaflor in South
Korea in 2012 and received a U.S. Section 18 Emergency Use Label
in cotton, which resulted in positive market reactions.

Dow posted its first-quarter 2013 results last month. The
company posted a profit of $550 million or 46 cents a share, a
roughly 33% rise from $412 million or 35 cents a share earned a
year ago. Profits soared on the strength in the agriculture
science business, which witnessed record sales of seeds and crop
protection products.

Barring one-time items (including charges associated with tax
adjustments and a loss on early extinguishment of debt), Dow
earned 69 cents a share in the quarter, up from 61 cents a year
ago. That comfortably beat the Zacks Consensus Estimate of 60
cents.

Dow will focus on organically growing its attractive
businesses and driving earnings, leveraging its feedstock
strength. The company will also continue to pursue its cost
reduction and efficiency programs while reducing debt and
maximizing shareholder returns. However, Dow does not see a
material improvement in the macroeconomic environment this
year.

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